Thursday, 2 October 2014
Last updated 13 hours ago
Mar 13 2014 | 12:51pm ET
Hedge fund AIS Capital Management has sued five banks for allegedly manipulating gold prices.
The firm alleges that Barclays, Deutsche Bank, HSBC Holdings, Bank of Nova Scotia and Société Générale “combined, conspired and agreed with one another and unnamed co-conspirators to manipulate the prices of gold and gold derivatives contracts.” The five banks set London’s benchmark gold fix price.
According to the suit, which seeks class-action status, the banks have been manipulating gold prices since 2004, and continue to do so. The illicit activities occur during twice-daily conference calls to set the price, during which “anomalous” price movements suggest manipulation, AIS said.
AIS’s Gold Fund lost 67% last year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...